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Why These Three Stocks are Trading Higher on Thursday

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The markets have inched up in the first hours of trading amid positive results announced by several companies. Among them, Facebook Inc (NASDAQ:FB) and XPO Logistics Inc (NYSE:XPO) have advanced by over 5% in early trading, while Solaredge Technologies Inc (NASDAQ:SEDG) has surged by over 22%. Let’s take a closer look at the financial results reported by these companies that are pushing their shares higher.

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Facebook Inc (NASDAQ:FB)‘s stock reached a new 52-week high of $110.65 on the back of its latest financial results, which included earnings of $0.57 per share on revenues of $4.5 billion, compared with analyst estimates of $0.52 and $4.37 billion, respectively. The company also reported having 1.01 billion Daily Active Users in September, up by 17% on the year, while the number of Monthly Active Users went up by 14% year-over-year to 1.55 billion. The company also posted strong gains for the mobile segment with its numbers of Monthly and Daily Active Users advancing by 23% and 27% on the year to 1.39 billion and 894 million, respectively. Facebook said that mobile advertising revenue stood at 78% of total advertising revenue, up from 66% of the total a quarter earlier.

Investors from our database like Facebook Inc (NASDAQ:FB), which ranked as their third-most popular stock, with 133 funds reporting long positions in it as of the end of June. Recently, billionaire Leon Cooperman’s Omega Advisors mentioned Facebook Inc (NASDAQ:FB) as one of its top tech picks and projected an 18% growth rate for the stock for the next three-to-five years (see more details). In addition, Clifford Fox’s Columbus Circle Investors reported ownership of 3.14 million shares of Facebook as of the end of September.

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On the next page, we will discuss the metrics that have driven XPO Logistics Inc (NYSE:XPO) and Solaredge Technologies Inc (NASDAQ:SEDG) higher today.

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